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Magick,Inc

Question 22

Multiple Choice

Magick,Inc.converted a $4,000 account receivable from Ronaldo to a 75-day,8% note receivable.The maturity value (assume a 360-day year) that will be due from Ronaldo in 75 days (round to nearest dollar) is:


A) $4,000.
B) $4,067.
C) $4,320.
D) some other number.

Correct Answer:

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